Overview
- Governor Andrew Bailey told MPs on Wednesday, July 8 that the Bank detected lobbying by Nigel Farage, discounted those interventions, and found no changes to its digital pound policy.
- The disclosure follows a confidential September 2025 meeting at Threadneedle Street in which Farage and Reform UK deputy leader Richard Tice discussed cryptocurrency rules and the Bank's CBDC work.
- Labour MP Phil Brickell filed a complaint on July 2 alleging unregistered lobbying by Farage, a matter now referred to the Parliamentary Commissioner for Standards for potential investigation.
- Reporting about a reported £5 million gift from donor Christopher Harborne and his links to Tether has intensified questions over whether crypto-linked funding sought to influence UK policy on stablecoins and a possible CBDC.
- The Bank says retail CBDC work remains exploratory and that any decision would need more research, public consultation and backing from Parliament and government, a dynamic that could reshape demand for private stablecoins if a digital pound ever materialises.